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JCOM

j2 Global

$70.35

1.09 (1.57%)

11:27
12/12/18
12/12
11:27
12/12/18
11:27

j2 Global mentioned cautiously in new GlassHouse Research short report

GlassHouse Research has published an initiation report on j2 Global (JCOM) with a 64% downside target. Using its Twitter account, GlassHouse claimed that there are a "myriad of accounting red flags regarding its negative organic revenue growth and suspect acquisition accounting combined with a lack of accounting experience in key positions." GLASSHOUSE SEES 64% DOWNSIDE AHEAD: In a report published on Wednesday, GlassHouse initiated j2 Global with a target price of $24.77, saying the company "uses a myriad of acquisitions to conceal non-reported organic declines and stagnant earnings." "[j2 Global's] continued use of acquisitions concurrent with declining ROIC and organic growth will cause its demise," the report read. Further, GlassHouse said it "find dubious liability transactions within the company's acquisition accounting that lead us to believe future reserves are being artificially created. [...] TTM non-GAAP income ($6.04) now stands 134% above GAAP income of $2.58, representing the highest deviation in [j2 Global's] history. Persistent material exclusions of intangible amortization expenses, acquisition-related costs, and stock-based compensation obfuscate [j2 Global's] true economic earnings." Overall, Glasshouse argued that there is "an approximate 64.2% downside to [j2 Global's] current share price in its future." PRICE ACTION: In late morning trading, shares of j2 Global have gained about 2.5% to $70.94.

  • 18

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JCOM j2 Global
$70.35

1.09 (1.57%)

10/19/18
WEDB
10/19/18
INITIATION
Target $95
WEDB
Outperform
j2 Global initiated with an Outperform at Wedbush
Wedbush analyst Daniel Ives initiated j2 Global with an Outperform rating and $95 price target, telling investors in a research note that he believes the company remains a "misunderstood story" by the Street as the company is still painted by many investors as a legacy fax player, serial M&A machine, and has low growth prospects/high margins that have largely played out over the past few years with headwinds ahead.
10/18/18
WEDB
10/18/18
INITIATION
WEDB
Outperform
j2 Global initiated with an Outperform at Wedbush
08/13/18
BARD
08/13/18
NO CHANGE
Target $92
BARD
Outperform
j2 Global weakness a buying opportunity, says Baird
Baird analyst William Power remains a buyer of j2 Global following its recent weakness. Power said while the display advertising market could continue to face challenges, he believes the growth areas within digital media, including its growing subscription business and accelerating fax trends, should help boost overall growth. Power reiterated his Outperform rating and lowered his price target to $92 from $95 on j2 Global shares.
05/09/18
DADA
05/09/18
NO CHANGE
Target $100
DADA
Buy
j2 Global price target raised to $100 from $95 at DA Davidson
DA Davidson analyst Rishi Jaluria raised his price target on J2 Global to $100 after its Q1 earnings, saying the results were driven by a 16% revenue increase in digital media. The analyst notes that the segment is increasingly more focused on subscription revenue, which has grown to 22% of digital media's total sales from 12% last quarter, adding that EBITDA margins are also expected to improve after some compression in Q1. Jaluria keeps his Buy rating on J2 Global.

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